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Friday Footnotes: EY Partners Are Split on the Split; PCAOB Further Annoys Auditors; Recruiting Events Are Back! | 3.31.23

Going Concern

auditors who believe their part of the firm could end up weakened by a deal. audit, tax and advisory firm, as title sponsor in an effort to advance equity, access and opportunity for underrepresented and underrated youth in the sport of golf. John King and Frank Mahoney, senior U.S. He previously held various tax roles at KPMG.

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Our Obsession with Hours Is Destroying the Accounting Profession

CPA Practice

Students unwilling to pay the high cost to obtain a master’s in accounting sign up for courses in areas such as sports or personal development to achieve the extra 30 semester hours required to become a CPA. Aspiring auditors and experienced professionals alike are recognizing the shortcomings of the educational and billable hour metrics.

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KPMG Leads in IPO Audit Clients for Q1 of 2024

CPA Practice

The Big Four firm was the auditor for eight of the 46 IPOs, tops among the 20 different firms with at least one IPO audit client in Q1. KPMG audited Amer Sports, a global group of outdoor wear and sports companies based in Finland, which was one of two companies that raised more than $1 billion in proceeds, known as a “unicorn IPO.”

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Accountants Are the Referees of Business, Says Guy Who Would Know

Going Concern

.” To put things into perspective for the normies who may not understand that accountants’ work is critical to the entire foundation of our financial system, he likens accountants to referees, the order-keepers of sports: “We may not always like the referees, but sports is a free-for-all without them,” he said.

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Why Are EY Clients So Stupid Sexy?

Going Concern

The Telegraph on why EY dropped UK grocery chain Asda: EY has quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief executive Mohsin Issa, The Telegraph can reveal. Filings show she resigned as a partner the day after EY resigned as Asda’s auditor.

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Auditors Ready To Drop Riskiest Corporate Clients

PYMNTS

As pressure continues to mount on the so-called Big Four corporate auditors in both Australia and the U.K., Grant Thornton is expected to divest Sports Direct as a client next month amid rising concerns over the company’s accounting practices, with the auditor separately announcing plans to take a “line by line” review of its clients.

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COVID-19 And The Acceleration Of Digital Payment Adoption

PYMNTS

Things we often took for granted — heading out to work and to school, going to sports and theater events, eating out, traveling internationally — have all been paused or put into question. We have learned from previous unpredictable events that preparing for pandemics isn’t just an academic exercise meant to satisfy some compliance auditor.

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